Albany, NY -- (SBWIRE) -- 07/05/2016 -- A new research report by Transparency Market Research states that the increasing demand for minimally invasive surgeries is driving the demand for vascular stents across the globe. The report, titled 'Vascular Stents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,' presents a brief overview of the market by directing its focus on the driving forces, trends, challenges, growth opportunities, and future prospects.

As per the findings of the report, the demand for minimally invasive surgeries has been on the rise. The rising number of cardiovascular diseases is projected to drive the market ahead. As the elderly are commonly diagnosed with cardiovascular diseases, they are expected to be the biggest target market for the manufacturers of vascular stents. As per the World Health Organization, in 2008, approximately 17.3 million people died because of cardiovascular diseases. By 2030, the number is projected to reach 23.3 million.

The rising aging population will be a major driving factor for the global vascular stents market, state the analysts. As per the findings of the World Health Organization (WHO), in 2000 there were 605 million people aged 65 years or more. The number is projected to reach 2 billion by 2050. Additionally, technological advancements in medical devices are anticipated to propel the global market for vascular stents.

Vascular stents have taken over the conventional surgical methods due to their advantages such as short recovery time, minimized bleeding, minimal risk of infection, and low cost. However, manufacturers of vascular stents are predicted to face the biggest challenge of the availability of alternative therapies.

The report segments the global vascular stents market on the basis of region and material. Metal stents, biodegradable polymeric stents, and standard polymeric stents are the primary types of vascular stents.

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By geography, the global vascular stents market is divided into Europe, Asia Pacific, North America, and Rest of the World. Currently, North America leads the global market for vascular stents owing to the rising number of people suffering from cardiovascular diseases. Europe follows North America to be the second largest market for vascular stents. The rising preference of surgeons to use newly introduced vascular stents to treat cardiovascular diseases will propel the vascular stents market in Europe, predict the analysts. Increasing government funding in China, India, and South-East Asia is projected to propel this market in Asia Pacific.

The research evaluates company profiles of leading participants operating in this market to present a competitive landscape. Some of the prominent players listed in the report are Cook Medical, InnoCore Technologies BV, Cordis Corporation, MIV Therapeutics Inc., Boston Scientific Corporation, Translumina GmbH, Stentys SA, SurModics Inc., Xtent Inc., Goodman Co. Ltd., Abbott Laboratories, Biosensors International Ltd., Reva Medical Inc., MicroPort Scientific Corp., Allvivo Vascular Inc., and Medtronic, Inc.

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